For generations, Massachusetts has been a pioneer in education across the board. Over a century before the country was created, it was the first state to implement a legislation forcing communities to establish schools. Here, in the 1800s, a lot of the foundational ideas of public education were formed. The oldest institution in the country is located there, and its educational system was named the best in the nation in 2018. This article is on best schools for business in Massachusetts 2023.
The state of Massachusetts is a national leader in education, including in business schools. Of course, Harvard University is the most well-known business school in the state and consistently ranks first among all business schools nationwide. Another top 10 school in the state, MIT, is a little less well-known (Massachusetts Institute of Technology). The Sloan School of Management is now ranked sixth in the US for its business degree programs, despite the fact that the institution is more frequently associated with computers than boardrooms. Massachusetts adds a number more schools that are equally as good but receive less attention to these lights, as well as numerous extra options for children with different needs and preferences. Dont forget our topic is on best schools for business in Massachusetts 2023.
The National Center for Educational Statistics (NCES) reports that Massachusetts has 60 public and nonprofit institutions that provide business degrees. 27 of these provide accredited undergraduate programs, while 18 provide accredited graduate programs. Always look for an accredited school because this will provide you the peace of mind that the chosen program has well-defined goals and that the institution has demonstrated that its curriculum meets both national and international standards. Accredited schools are also more likely to provide opportunities for students to interact with real businesses and gain practical experience.
The Association to Advance Collegiate Schools of Business (AACSB), Accreditation Council for Business Schools and Programs (ACBSP), or International Accreditation Council for Business Education have all granted accreditation to all of the institutions discussed in this article (IACBE). They are all regionally recognized by the New England Association of Schools and Colleges and are either public or nonprofit institutions (NEASC).
You can use the information in this page to decide which Massachusetts business school best meets your individual requirements. You’ll find information and debate on a number of important topics, including tuition, financial assistance, entrance exam results, acceptance rates, faculty traits, and more. The following three parts discuss undergraduate programs, graduate programs, and job prospects for Massachusetts business school graduates.
Read Also: Best Online DBA Programs 2023
Best Schools For Business in Massachusetts
The Following are the best schools for business in Massachusetts according to US News & World Report data:
- Harvard University – #1 in Best Business Schools, #1 in Best Graduate Management Schools, #2 in Top National Universities, #2 in Best Value Schools, #14 in Most Innovative Schools
- Massachusetts Institute of Technology – #5 in Best Business Schools, #10 in Top Executive MBA Programs, #3 in Best National Universities, #2 in Best Undergraduate Business School Programs, #3 in Best Value Schools
- Boston University – #42 in Best Business Schools, #32 in Top Part-time MBA Programs, #18 in Best Colleges for Veterans, #42 in Top National Universities, #42 in Best Undergraduate Business School Programs, #9 in Best Online Graduate Business Programs
- Boston College – #48 in Best Business Schools, #35 in Best Graduate Accounting Programs, #21 in Best Undergraduate Business Schools, #38 in Best National Universities, #27 in Best Undergraduate Management Programs
- Northeastern University – #59 in Best Business Schools, #8 in Most Innovative Schools, #44 in Best National Universities, #62 in Best Undergraduate Business School Programs, #51 in Best Online Graduate Business Programs, #76 in Best Online MBA Programs
- Babson College – #83 in Best Business Schools, #66 in Top Part-time MBA Programs, #30 in Best Undergraduate Business School Programs, #26 in Top Management Programs, #100 in Best Online MBA Programs
Undergraduate Business Schools in Massachusetts
Massachusetts has nearly two dozen colleges for undergraduate business education, but as befits its reputation, the majority of these trend toward the more expensive end of the cost spectrum. The high cost of living in Massachusetts combined with the good reputations of several of its schools led to an average tuition for all undergraduate business schools in the state of roughly $33,600. This amount is about twice as expensive as the average in other states, ranking in the top ten most expensive states for business education. Only seven colleges are available here that cost less than $15,000, and four of those are different campuses of the University of Massachusetts, the public university. Nine of the other 20 colleges cost more than $40,000, and the remaining 20 are all priced at around $30,000. Boston College, Brandeis University, and Boston University are the most expensive, with each course costing a maximum of just over $50,000. (This could come as a slight surprise since most people would assume Harvard to be the most expensive!) Even though the average amount of financial aid is above $20,000, there is still a significant funding gap that students must fill.
With the exception of the most exclusive universities, all of our schools have acceptance rates, and they are typically on the modest side. The average across all schools is 59%, while 18 of them score at or over 60%. At 89%, Dean College and Curry College have the lowest acceptance rates, while Harvard and MIT have the highest, at 5% and 8% respectively.
Massachusetts has relatively high graduation rates for undergraduate business degrees, so there’s a strong possibility that if you enroll there, you’ll graduate with a degree in hand. The remarkable 97% graduation rate at Harvard leads the nation’s high graduation rate of 68%. Even the colleges with the lowest models—Dean College at 38% and Anna Maria College at 39%—are not that low. The Massachusetts Maritime Academy has the best acceptance rate and graduation rate, at 80% and 76%, respectively.
You can find all the crucial information you require about Massachusetts’s undergraduate business programs in the table below, which also includes annual in-state tuition costs, average aid given to each student, acceptance rates, the SAT and ACT score ranges of accepted students, and graduation rates. Any column header can be clicked to sort the table according to its contents.
|
School
|
City
|
Tuition
|
Aid
|
Median SAT
|
Median ACT
|
Accept. Rate
|
Grad. Rate
|
|---|---|---|---|---|---|---|---|
| Anna Maria College | Paxton | $36,110 | $16,782 | 83% | 40% | ||
| Babson College | Babson Park | $48,288 | $34,363 | 1170-1370 | 27-31 | 25% | 90% |
| Bentley University | Waltham | $45,760 | $26,731 | 1060-1290 | 25-30 | 46% | 90% |
| Boston College | Chestnut Hill | $51,296 | $35,919 | 1260-1460 | 30-33 | 31% | 90% |
| Boston University | Boston | $50,240 | $29,934 | 1220-1420 | 28-32 | 29% | 90% |
| Brandeis University | Waltham | $51,245 | $34,159 | 1270-1480 | 29-33 | 33% | 90% |
| Clark University | Worcester | $43,150 | $23,961 | 55% | 80% | ||
| Curry College | Milton | $37,835 | $18,100 | 840-1040 | 18-23 | 89% | 50% |
| Dean College | Franklin | $36,660 | $21,376 | 89% | 40% | ||
| Elms College | Chicopee | $33,412 | $15,914 | 840-1055 | 19-23 | 76% | 60% |
| Fisher College | Boston | $29,640 | $12,087 | 68% | 50% | ||
| Fitchburg State University | Fitchburg | $10,135 | $5,877 | 890-1090 | 18-24 | 75% | 50% |
| Framingham State University | Framingham | $9,340 | $4,920 | 890-1090 | 20-25 | 65% | 60% |
| Harvard University | Boston | $47,074 | $41,414 | 1430-1600 | 32-35 | 5% | 99% |
| Lasell College | Newton | $33,600 | $20,473 | 870-1060 | 19-22 | 76% | 50% |
| Massachusetts Institute of Technology | Cambridge | $48,452 | $37,116 | 1460-1590 | 33-35 | 8% | 90% |
| Massachusetts Maritime Academy | Buzzards Bay | $8,004 | $7,384 | 950-1150 | 20-26 | 80% | 80% |
| Nichols College | Dudley | $33,400 | $18,683 | 84% | 40% | ||
| Northeastern University | Boston | $47,653 | $25,240 | 1330-1510 | 31-34 | 29% | 90% |
| Simmons College | Boston | $38,590 | $22,837 | 1080-1260 | 24-29 | 64% | 70% |
| Springfield College | Springfield | $35,475 | $19,586 | 900-1120 | 24-28 | 66% | 70% |
| Stonehill College | Easton | $39,900 | $23,170 | 73% | 80% | ||
| Suffolk University | Boston | $35,578 | $17,890 | 910-1120 | 20-25 | 84% | 60% |
| University of Massachusetts – Amherst | Amherst | $14,971 | $8,849 | 1130-1330 | 25-30 | 60% | 80% |
| University of Massachusetts – Boston | Boston | $13,435 | $8,534 | 960-1180 | 21-26 | 69% | 50% |
| University of Massachusetts – Dartmouth | North Dartmouth | $13,188 | $8,299 | 910-1130 | 20-26 | 76% | 50% |
| University of Massachusetts – Lowell | Lowell | $14,307 | $7,806 | 1070-1260 | 24-29 | 61% | 60% |
Graduate Business Schools in Massachusetts
18 accredited graduate business schools in Massachusetts have been the subject of our data collection. The same exorbitant expenditures that are found at the undergraduate level also apply to post-graduate research: the state’s overall average tuition is a staggering $75,000 per year. Although the price of the exclusive programs at Harvard and MIT, which adds about $150,000 to this total, 11 of the other 16 universities still cost more than $65,000. Lasell College is the least priced choice, costing $21,600.
For 16 of our schools, we have the typical GMAT scores for admission. Twelve of them lie somewhere between 500 and 650. University of Massachusetts-Dartmouth (422) and Western New England University (475) are the two institutions with lower scores. With exceptionally high average GMAT admittance scores of 731 and 722, it is no surprise that Harvard and MIT are the two on the top end. Data on the proportion of full-time faculty members having doctorates is also available for 13 institutions, with percentages ranging from 71% at Boston University to almost 98% at the University of Massachusetts – Dartmouth.
Today’s busy folks desire to have it all: maintain their lucrative employment while simultaneously improving their future prospects by earning a graduate degree. In Massachusetts, there are more than a dozen possibilities for online MBA programs for those in this group as well as others who require flexibility. The first university in Massachusetts to launch an online MBA program in 1999 was Suffolk University, which now provides both fully online and hybrid alternatives. The Financial Times has named the University of Massachusetts Amherst’s Isenberg School of Management’s online program as one of the best in the country and among the top five globally. The program offers several focus areas and can be completed entirely online or “mixed,” which refers to a program that combines online and on-campus courses. Northeastern University, Simmons College, the Universities of Massachusetts at Boston, Amherst, and Dartmouth, Western New England University, Fitchburg State College, and Endicott College are more institutions that provide online MBA programs.
The tables below indicate the average GMAT scores of approved applicants, the proportion of faculty with doctorates, and the student-to-faculty ratios for graduate business schools. Any column header can be clicked to sort the table according to its contents.
|
School
|
City
|
Tuition
|
Avg. GMAT
|
Faculty
with Doct. Degree |
Student/
Faculty |
|---|---|---|---|---|---|
| Babson College | Babson Park | $126,140 | 583 | 82% | 2.99 |
| Bentley University | Waltham | $73,915 | 606 | 77% | 3.36 |
| Boston College | Chestnut Hill | $91,450 | 637 | 2.43 | |
| Boston University | Boston | $99,092 | 618 | 71% | 3.5 |
| Brandeis University | Waltham | $93,538 | 651 | 79% | 9.94 |
| Clark University | Worcester | $71,400 | 588 | 81% | 9.28 |
| Harvard University | Boston | $146,880 | 731 | ||
| Lasell College | Newton | $21,600 | |||
| Massachusetts Institute of Technology | Cambridge | $147,900 | 722 | ||
| Northeastern University | Boston | $88,991 | 635 | 88% | 1.78 |
| Simmons College | Boston | $69,360 | |||
| Suffolk University | Boston | $73,535 | 509 | 83% | 1.69 |
| University of Massachusetts – Amherst | Amherst | $29,508 | 570 | 88% | 0.94 |
| University of Massachusetts – Boston | Boston | $67,820 | 547 | 82% | 4.64 |
| University of Massachusetts – Dartmouth | North Dartmouth | $22,368 | 422 | 98% | 2.4 |
| University of Massachusetts – Lowell | Lowell | $27,598 | 507 | 75% | 1.35 |
| Western New England University | Springfield | $29,644 | 475 | 82% | |
| Worcester Polytech Institute | Worcester | $67,584 | 634 | 94% | 4.45 |
Job Outlook for Business School Graduates in Massachusetts
According to recent Bureau of Labor Statistics (BLS) data, 32 out of 37 business and management occupations in the US are expected to grow overall by at least 5% between 2016 and 2026. 5 Market analysts and marketing professionals will experience the biggest increase over the next 10 years, with financial managers following at 18.7%.
Massachusetts has maintained a robust economy for many years, with a state unemployment rate that is currently at 3.5% and has consistently been lower than the national average for the past ten years.
In 2016, Massachusetts’ business and management industry employed over 363,000 people.
With 71,900 employed, general and operations managers were by far the largest subgroup, closely followed by accountants and auditors (35,700) and finance managers (28,600). All other categories were close to or below 15,000, with management analysts coming in at 22,500 and market research and marketing specialists little over 20,000.
According to BLS statistics, Massachusetts’s overall average annual wage for all occupations in 2016 was $75,297, placing it fifth out of the other 51 states and the District of Columbia. The weighted average annual pay for business and management vocations that year was substantially higher at roughly $113,600, ranking among the highest in the country. With a comfortable average pay of $212,000, chief executives were the highest-paid subgroup, as they are in the majority of states. Even the lowest position, for meeting and event planners, paid over $60,000, with the majority of managerial positions falling between $120,000 and $150,000.
|
Occupation Title
|
BLS.gov
Code |
2016
Total Employment Massachusetts |
Mean
Hourly Wage Massachusetts |
Mean
Annual Wage Massachusetts |
National
Growth 2016-26 |
|---|---|---|---|---|---|
| Accountants and Auditors | 13-2011 | 11,020 | $102 | $212,000 | 10.0% |
| Administrative Services Managers | 11-3011 | 71,880 | $63 | $131,010 | 10.1% |
| Advertising and Promotions Managers | 11-2011 | 1,290 | $67 | $140,240 | 5.8% |
| Architectural and Engineering Managers | 11-9041 | 11,790 | $68 | $142,040 | 5.5% |
| Budget Analysts | 13-2031 | 14,860 | $72 | $150,090 | 6.5% |
| Business Managers of Artists and Athletes | 13-1011 | 4,200 | $61 | $126,490 | 4.9% |
| Business Operations Specialists | 13-1199 | 13,040 | $51 | $105,250 | 8.8% |
| Chief Executives | 11-1011 | 15,540 | $73 | $151,070 | 0.08 |
| Compensation Job Analysis Specialists | 13-1141 | 28,640 | $67 | $138,610 | 8.5% |
| Compensation and Benefits Managers | 11-3111 | 2,800 | $58 | $120,940 | 5.0% |
| Compliance Officers | 13-1041 | 0,800 | $63 | $130,900 | 8.2% |
| Computer and IT Systems Managers | 11-3021 | 5,090 | $62 | $128,720 | 11.9% |
| Construction Managers | 11-9021 | 1,540 | $66 | $137,430 | 11.4% |
| Cost Estimators | 13-1051 | 6,370 | $53 | $109,900 | 10.6% |
| Credit Analysts | 13-2041 | 7,350 | $70 | $145,000 | 8.4% |
| Credit Counselors | 13-2071 | 0,210 | $51 | $106,930 | 13.9% |
| Financial Analysts | 13-2051 | 7,070 | $40 | $83,030 | 10.8% |
| Financial Examiners | 13-2061 | 5,830 | $36 | $74,200 | 9.8% |
| Financial Managers | 11-3031 | 14,680 | $36 | $74,740 | 18.7% |
| Human Resources Managers | 11-3121 | 2,800 | $31 | $63,840 | 8.9% |
| Human Resources Specialists | 13-1071 | 2,390 | $39 | $80,110 | 7.1% |
| Insurance Underwriters | 13-2053 | 22,540 | $51 | $105,950 | -5.2% |
| Labor Relations Specialists | 13-1075 | 2,310 | $29 | $60,340 | -7.8% |
| Loan Officers | 13-2072 | 2,250 | $33 | $68,600 | 11.5% |
| Logisticians | 13-1081 | 6,800 | $36 | $74,660 | 6.9% |
| Management Analysts | 13-1111 | 20,300 | $38 | $79,030 | 12.0% |
| Market Analysts and Marketing Specialists | 13-1161 | 11,550 | $40 | $82,880 | 22.8% |
| Marketing Managers | 11-2021 | 35,730 | $40 | $82,420 | 10.0% |
| Meeting, Convention, and Event Planners | 13-1121 | 2,060 | $37 | $77,480 | 10.2% |
| Operations Managers | 11-1021 | 1,940 | $39 | $80,980 | 9.1% |
| Public Relations Managers | 11-2031 | 13,700 | $46 | $96,700 | 10.4% |
| Purchasing Managers | 11-3061 | 3,230 | $42 | $87,980 | 5.6% |
| Sales Managers | 11-2022 | 1,530 | $49 | $100,880 | 7.4% |
| Tax Examiners and Collectors | 13-2081 | 1,390 | $30 | $62,740 | -0.6% |
| Tax Preparers | 13-2082 | 5,330 | $46 | $96,090 | 10.8% |
| Training and Development Managers | 11-3131 | 1,650 | $32 | $66,440 | 10.3% |
| Training and Development Specialists | 13-1151 | 1,440 | $37 | $76,230 | 11.5% |
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